eSignal, MetaStock, or TradeStation?

Discussion in 'Trading Software' started by bullockp21, Feb 28, 2011.

  1. I am new to trading (although I've read a few books on high probability trading strategies and Elliott Wave Theory, and have also been working on a trading plan for a while now) and I was wondering if anyone might be able to help me.

    I have narrowed down my three potential software selections to eSignal, MetaStock, or TradeStation. They all appear to be similarly priced (on a monthly basis for the software at least)…

    I have a few remaining questions that I was looking to find some answers for:

    1) It appears that the MetaStock Pro QuoteCenter Subscription has the software and datafeeds bundled together, is this correct? If so, do either eSignal or TradeStation bundle the software and datafeeds in a similar fashion, or do you have to subscribe to individual datafeeds from the various exchanges?

    2) If I am planning to be predominately a position trader, is real-time data necessary, or will end of day data suffice?

    3) TradeStation has the added convenience of having an affiliated Broker, do eSignal and MetaStock have connectivity with Brokers, and, if so, which ones? This would affect where the assets for my trading account would be custodied.

    4) Finally, as a general question, which one of these three software options do you find the best/would you go with?

    Any insight anyone can provide me with will be very much appreciated. Thanks.
  2. NinjaTrader_Ray

    NinjaTrader_Ray ET Sponsor

    If you are position trading you might not need intraday data. It depends if it is only daily data you care about.

    For EOD data, I suggest using Kinetick with NinjaTrader. The service and software is completely free of charge.

    If you want intraday, then Kinetick is $50 per month excluding exchange fees. This is much less expensive than eSignal.

    Info on Kinetick EOD -
    Download NinjaTrader -

    A partial list of NinjaTrader supported brokerages -